If you have a piece of property that is too large for your needs but you don't want to move, then one of the most effective solutions is to consider a subdivision. A subdivision will provide you with a way to benefit financially from your property while at the same time freeing you from the long-term maintenance burden of the property. While setting up a subdivision may seem like a complicated process with the right help, it isn't as difficult as you might think. Here are the steps you need to take to create a subdivision.
Start with an architect
If you want to build a property on part of your land then before you start you need to ensure that you have sufficient space to build a property and that you can get your design approved. Start by working with an architect to design the property you want to build. Once your design is completed, follow the set procedure your local council uses to obtain a building permit. When your permit is approved it will usually come with a set of conditions that must be completed before a Statement of Compliance can be granted.
Appoint a conveyancer
After you have met all of the imposed conditions and obtained your Statement of Compliance you must engage a conveyancer who will be able to work with the land titles office to register your subdivision. It is the registration of your new subdivision that ensures that it is allocated a street number and is officially recognised as a separate property.
What else is involved in creating a subdivision?
While these are the only legal steps that you must take, there is obviously a lot more involved in the subdivision process. You will need to work with a range of contractors to complete your subdivision the people you must involve will vary depending on the work you must undertake. You will probably have to employ building contractors to construct the property. Setting up electricity and water connections will involve you in talks with the utility companies. You will certainly need to create a new boundary fence, and perhaps a new drainage system as well. To find out how you can best create a subdivision on your property, it is vital that you have access to a team of experts who will be able to guide you every step of the way. If you make a misstep at an early stage, you may find that you have severely limited the use of your subdivision or have failed to comply with all of the legal conditions. Working with experts who regularly complete this type of work is the best option for your subdivision.